I agree, we should either peg it or not have it since it causes so much confusion. As I explained in my post, I'm a huge fan of having a pegged asset, so I'd be very, very sad to see it go.
The connection you make the original hyper-inflationary STEEM is interesting. I still think the inflation of STEEM (or, share dilution protection in VESTS as I like to think about it) is valuable. Maybe we should be highlighting this more.
I'm hopeful the "wait and see" approach will work. It's also possible it will just keep being pumped and dumped though.